Rating Agency S&P overnight cut its projections again for the UK economy
- forecasts an 8.1% contraction for the economy
- warned of a "perfect storm" in 2021 is if there is no a post-Brexit EU trade deal
S&P say they do expects a "core" free trade deal starting 2021 between the EU and UK. The firm note also that the risk that negotiations failing remain elevated
- "A second, bigger wave of (coronavirus) infections in autumn, then followed by a switch to WTO trade rules in January would be a perfect storm"
